Are Boomers and Retirees Having Problems Selling Their Homes? (How Is Depending on a Home as Personal Wealth Turning Out?)

[seoulsearch]

Hello Everyone,

I listen to a lot of debates on whether it's better to rent or buy a place to live, especially as the economic landscape (in the USA) is always shifting. Conventional wisdom that I grew up with always said that buying is better because it's basically a forced savings account, with houses usually appreciating in value, and not being subjected to the whims of a landlord.

These are all great benefits, but I'm wondering how it's working out in a practical sense for people. Wherever there's a lot of talk, I always need to see the proof from those who are in the walk.

I'm sure there are plenty of people who made out well from buying and selling a home, but I just listened to a video a few days ago from a real estate agent giving an example of one pair of boomer clients who were retiring and building a new house for close to $800,000. They were expecting their house to sell for around $800,000 because (quoting the realtor) "they thought it was still 2022 when you could sell a home in a day, but that's been over for a while."

The harsh reality is that their former house was only appraised at $560,000, and even at that price, it's not selling, so they're in quite a situation -- especially since they are older and trying to retire.

I know these numbers are ridiculous, but I live in an area where Google says the average home price in my area is $500,000 - $570,000. If you want lower prices, be prepared to have a village of homeless people sleeping on your lawn (that's not an exaggeration -- I've driven past neighborhoods with tents flooding over across open patches of grass between the houses.) The "less expensive" houses are also old, and will likely need a bit of work, which racks up the cost.

Substances that were illegal when I was a kid are legal here, and there have been various "experiments" with defunding the police and decriminalizing hard drugs in bigger cities, with the consequences spilling over to all the surrounding areas. It's sad fact that safety has a very high price tag here.

I had relatives who looked into downsizing to a smaller house with older people in mind, but builders told them they don't build anything less than 2,200 feet, because everything here is designed for families. No one wants to waste their time building smaller, more affordable housing.

In the video I listened to, the realtor asked, "Who, exactly, are boomers expecting to sell their houses to?" Who can be counted on to pay these kind of prices? I hear story after story of tech workers making 6 figures getting laid off, and are lucky to find a job that pays half of their former income.

I know some people have houses that have appreciated greatly in value, but I'm always wondering: 1. Who will buy them at that price, especially since they will need work done? With so many new builds here, people will often choose new. 2. Is the price they're selling their house for enough to cost the expenses of finding another place to live?

I have relatives who had to move cross-country and the moving costs alone for all their things was $30,000. Not to mention closing costs and all the fees, taxes, and additional expenses when finding a new home.

I would like to ask (whether for yourself or those you know

* Are older and retired people finding success in selling their houses for great profits, paying all the taxes, and then being able to afford to move to another place?

* Are they finding smaller, cheaper places to live -- because if not, why move if you don't have to?

* If people are using their houses as their main source of wealth, how does it work if you aren't able to sell you house? (Do you just survive by taking loans against the value of your home?)

I have owned a home in the past but feel that renting is better for my current situation. Never in my life would I be able to or willingly take on a $500,000 home. Yet, I'm often told that I should (buy a home.) But I've also been hearing many stories of older people who are losing their homes anyway because they can't keep up with the rising taxes, insurance, and HOA fees.

I'd really like to hear how things have worked out for other people in the ongoing renting vs. owning debate, especially for people who are depending on their home's value to support them for the rest of their lives.

Is what I listened to just an exaggeration?

 

[Texasgal]

I was lucky and inherited both a mansion and an apartment from my dad. When I’m getting older I’ll probably sell the mansion and move into the apartment. I don’t know how much it’s worth, but it doesn’t really matter since there’s no mortgage. It’s an old mansion in Galveston, but the neighborhood is pristine, so I’m guessing somewhere between $600,000-1,000,000. I hope to be able to live there for at least the next 20 years.

 

[JaumeJ]

Pre-baby boomer here. I am constantly saddened observing how financing has changed, deteriorated that is, for families and singles who would buy property.
Achieving wealth used to be something gradual, not too, but gradual.
Multimillionaires were mostly into helping the general populace to have a higher quality of living. It did not work for all, obviously,.
Today, those striving for abject wealth are going for immediate wealth at any price, for others that is.
So, believing our Father, I pray for all. God bless you. Sorry to be so vague.

 

[NightTwister]

Hello Everyone,

I listen to a lot of debates on whether it's better to rent or buy a place to live, especially as the economic landscape (in the USA) is always shifting. Conventional wisdom that I grew up with always said that buying is better because it's basically a forced savings account, with houses usually appreciating in value, and not being subjected to the whims of a landlord.

These are all great benefits, but I'm wondering how it's working out in a practical sense for people. Wherever there's a lot of talk, I always need to see the proof from those who are in the walk.

I'm sure there are plenty of people who made out well from buying and selling a home, but I just listened to a video a few days ago from a real estate agent giving an example of one pair of boomer clients who were retiring and building a new house for close to $800,000. They were expecting their house to sell for around $800,000 because (quoting the realtor) "they thought it was still 2022 when you could sell a home in a day, but that's been over for a while."

The harsh reality is that their former house was only appraised at $560,000, and even at that price, it's not selling, so they're in quite a situation -- especially since they are older and trying to retire.

I know these numbers are ridiculous, but I live in an area where Google says the average home price in my area is $500,000 - $570,000. If you want lower prices, be prepared to have a village of homeless people sleeping on your lawn (that's not an exaggeration -- I've driven past neighborhoods with tents flooding over across open patches of grass between the houses.) The "less expensive" houses are also old, and will likely need a bit of work, which racks up the cost.

Substances that were illegal when I was a kid are legal here, and there have been various "experiments" with defunding the police and decriminalizing hard drugs in bigger cities, with the consequences spilling over to all the surrounding areas. It's sad fact that safety has a very high price tag here.

I had relatives who looked into downsizing to a smaller house with older people in mind, but builders told them they don't build anything less than 2,200 feet, because everything here is designed for families. No one wants to waste their time building smaller, more affordable housing.

In the video I listened to, the realtor asked, "Who, exactly, are boomers expecting to sell their houses to?" Who can be counted on to pay these kind of prices? I hear story after story of tech workers making 6 figures getting laid off, and are lucky to find a job that pays half of their former income.

I know some people have houses that have appreciated greatly in value, but I'm always wondering: 1. Who will buy them at that price, especially since they will need work done? With so many new builds here, people will often choose new. 2. Is the price they're selling their house for enough to cost the expenses of finding another place to live?

I have relatives who had to move cross-country and the moving costs alone for all their things was $30,000. Not to mention closing costs and all the fees, taxes, and additional expenses when finding a new home.

I would like to ask (whether for yourself or those you know

* Are older and retired people finding success in selling their houses for great profits, paying all the taxes, and then being able to afford to move to another place?

* Are they finding smaller, cheaper places to live -- because if not, why move if you don't have to?

* If people are using their houses as their main source of wealth, how does it work if you aren't able to sell you house? (Do you just survive by taking loans against the value of your home?)

I have owned a home in the past but feel that renting is better for my current situation. Never in my life would I be able to or willingly take on a $500,000 home. Yet, I'm often told that I should (buy a home.) But I've also been hearing many stories of older people who are losing their homes anyway because they can't keep up with the rising taxes, insurance, and HOA fees.

I'd really like to hear how things have worked out for other people in the ongoing renting vs. owning debate, especially for people who are depending on their home's value to support them for the rest of their lives.

Is what I listened to just an exaggeration?

We won't be selling our house. Fun fact, I bought my first house ever when I was 60 years old. My wife and I have an endless debate about "too big" (3,000sf) and "too small." I think it's way too large for two people, but as usual I lose the argument. With a minuscule APR on the loan, it would be dumb to move anyway. A much smaller house would cost even more because of the higher interest rates.

As for property taxes, Colorado is pretty low compared to other states, and in 4 years the state will pay half of my taxes up to 200K valuation because I'm a senior citizen.

 

[Templar62]

im a boomer in the uk who owns a modest property.i was fortunate when i began work and was enrolled into a final salary pension which gives me an income for life.its no kings ransom but its enough.having the energy because of youth to work overtime for years,money i looked after because even in my thirties i knew these days may arrive.i have always lived modestly.having nothing but the equity in a property would give me sleepless nights.

 

[seoulsearch]

Pre-baby boomer here. I am constantly saddened observing how financing has changed, deteriorated that is, for families and singles who would buy property.
Achieving wealth used to be something gradual, not too, but gradual.
Multimillionaires were mostly into helping the general populace to have a higher quality of living. It did not work for all, obviously,.
Today, those striving for abject wealth are going for immediate wealth at any price, for others that is.
So, believing our Father, I pray for all. God bless you. Sorry to be so vague.

It makes me very sad that most people my age and younger will never truly own anything.

I've done some research on mortgage prices here and they're really not any cheaper than apartments -- the payments are just as much or more than rent, especially when you figure in taxes, insurance, HOA, and repairs. I've listened to realtors say you have to count on putting aside up to 5% of your home's value every year for maintenance, bare minimum, because most people don't think about the times when they'll have to replace the roof, HVAC, and appliances if they're staying there long term.

I have some single male friends closing in on age 40 and they tell me they feel like losers for not owning a home, because women, especially Christian women, expect providers (saying this is Biblical) -- and that includes owning a home.

Yet I've heard other statistics saying less than 1/4 of single men today could actually afford a home. I truly think the definition of "provider" has become broken and needs new parameters, but that's just me.

I tell my guy friends to never be ashamed of working hard and being able to save money in their current circumstances.

I might not own a home, but I try to save up as much extra money as possible and just keep putting it away. I also don't have to wring my hands every time something goes wrong. We have a great maintenance guy and he often checks to see if he can fix things the same day I put in the work order. The motherboard for my heater fried (they said they've seen this happen in other units, too,) and they installed a brand-new one within two days. (I had separate heating in my room, so I was fine.) I didn't have to worry about who to call, what it would cost, or if they were just ripping me off -- and I was so grateful for that.

And I wouldn't expect a man to meet a standard that I can't (and don't intend to) meet either, but again, that's just my own conclusion from what I've personally observed.

 

[Tall_Timbers]

I'm sure there are plenty of people who made out well from buying and selling a home, but I just listened to a video a few days ago from a real estate agent giving an example of one pair of boomer clients who were retiring and building a new house for close to $800,000. They were expecting their house to sell for around $800,000 because (quoting the realtor) "they thought it was still 2022 when you could sell a home in a day, but that's been over for a while."

The harsh reality is that their former house was only appraised at $560,000, and even at that price, it's not selling, so they're in quite a situation -- especially since they are older and trying to retire.

More often than not a person will sell a home for more than they paid for it. Whether or not they break even after the costs associated with getting a house ready to sell and actually selling it is a whole 'nother question.

In many areas, if you have a custom house built, it will cost more to build it that it will be worth, often a lot more. It is more economical for a builder to build out an entire neighborhood (per house) than to build just one home on property someone owns.

The first house I bought in interior Alaska when the economy there was in depression. I got the house for about 2/3's of what it cost the original homeowner who fled the state and left the bank holding the property. When I sold it 7 years later I about broke even.

My second house was a custom home I had built out north of Fairbanks. When I sold it about 23 years later it sold for $250,000 less than I had into it. I knew when I built it that it was worth a lot less after it was built than I paid for it, but it was a little surprising that 23 years of inflation later I at least didn't break even.

My third house appreciated 50% during the two years before we bought it, so we probably paid too much. We'll see what happens with this property if I'm alive when it is sold...

At least in my case, home ownership hasn't helped build wealth.

I think in a lot of cases today, renting/leasing can be the better option. The biggest downside there is no control over rising rent prices. If a person buys a home with a mortgage, most of the payment money goes to interest so you're not really getting further along financial-wise unless the property appreciates in value while you have it.

 

[seoulsearch]

I think in a lot of cases today, renting/leasing can be the better option. The biggest downside there is no control over rising rent prices. If a person buys a home with a mortgage, most of the payment money goes to interest so you're not really getting further along financial-wise unless the property appreciates in value while you have it.

Especially with the introduction of 50-year mortgages... Even if people do buy a home, they'll never own it.

And even if by some miracle they do pay it off -- I've been listening to a lot of heart-wrenching stories of people now who worked all their lives to pay off their homes, but are still losing them due to taxes, insurance, and all the other fees.

It's soul-crushing.

And I understand what you're saying about not having any control over rent. We have a plethora of complexes going up in this area -- whether they'll fill them is another matter, but I hope it will be enough competition to keep things in line for a while.

One of the things I'm trying to build up to in my emergency fund is to hopefully have enough to be able to move, just in case.

I hate feeling trapped and one reason I like saving is because having a cushion at least gives me an illusion that I might have options.

 

[ThereRoseaLamb]

Hello Everyone,

I listen to a lot of debates on whether it's better to rent or buy a place to live, especially as the economic landscape (in the USA) is always shifting. Conventional wisdom that I grew up with always said that buying is better because it's basically a forced savings account, with houses usually appreciating in value, and not being subjected to the whims of a landlord.

These are all great benefits, but I'm wondering how it's working out in a practical sense for people. Wherever there's a lot of talk, I always need to see the proof from those who are in the walk.

I'm sure there are plenty of people who made out well from buying and selling a home, but I just listened to a video a few days ago from a real estate agent giving an example of one pair of boomer clients who were retiring and building a new house for close to $800,000. They were expecting their house to sell for around $800,000 because (quoting the realtor) "they thought it was still 2022 when you could sell a home in a day, but that's been over for a while."

The harsh reality is that their former house was only appraised at $560,000, and even at that price, it's not selling, so they're in quite a situation -- especially since they are older and trying to retire.

I know these numbers are ridiculous, but I live in an area where Google says the average home price in my area is $500,000 - $570,000. If you want lower prices, be prepared to have a village of homeless people sleeping on your lawn (that's not an exaggeration -- I've driven past neighborhoods with tents flooding over across open patches of grass between the houses.) The "less expensive" houses are also old, and will likely need a bit of work, which racks up the cost.

Substances that were illegal when I was a kid are legal here, and there have been various "experiments" with defunding the police and decriminalizing hard drugs in bigger cities, with the consequences spilling over to all the surrounding areas. It's sad fact that safety has a very high price tag here.

I had relatives who looked into downsizing to a smaller house with older people in mind, but builders told them they don't build anything less than 2,200 feet, because everything here is designed for families. No one wants to waste their time building smaller, more affordable housing.

In the video I listened to, the realtor asked, "Who, exactly, are boomers expecting to sell their houses to?" Who can be counted on to pay these kind of prices? I hear story after story of tech workers making 6 figures getting laid off, and are lucky to find a job that pays half of their former income.

I know some people have houses that have appreciated greatly in value, but I'm always wondering: 1. Who will buy them at that price, especially since they will need work done? With so many new builds here, people will often choose new. 2. Is the price they're selling their house for enough to cost the expenses of finding another place to live?

I have relatives who had to move cross-country and the moving costs alone for all their things was $30,000. Not to mention closing costs and all the fees, taxes, and additional expenses when finding a new home.

I would like to ask (whether for yourself or those you know

* Are older and retired people finding success in selling their houses for great profits, paying all the taxes, and then being able to afford to move to another place?

* Are they finding smaller, cheaper places to live -- because if not, why move if you don't have to?

* If people are using their houses as their main source of wealth, how does it work if you aren't able to sell you house? (Do you just survive by taking loans against the value of your home?)

I have owned a home in the past but feel that renting is better for my current situation. Never in my life would I be able to or willingly take on a $500,000 home. Yet, I'm often told that I should (buy a home.) But I've also been hearing many stories of older people who are losing their homes anyway because they can't keep up with the rising taxes, insurance, and HOA fees.

I'd really like to hear how things have worked out for other people in the ongoing renting vs. owning debate, especially for people who are depending on their home's value to support them for the rest of their lives.

Is what I listened to just an exaggeration?

I'm not a boomer, my parents are. Had they sold their house under Biden they would have lost their proverbial shirts. Not trying to make it political, just saying they made the right move to wait. When they sell, possibly this year, they are in a good place to make a good sum of money on the house, and it's only a three bedroom, two bath.

We aren't sure whether we are going to add on to our house or sell. We bought our place for $110,000 and it's now estimated at $257, 900. We have it close to paid off. But with my parents needing help and my MIL wanting to live closer we might just try to find a place big enough for all of us. Homes seem to be selling fairly quickly in our area, but we're small town USA. Not sure what it's like in the city.

Our home is older but we took out the carpet upstairs and down and put down wood flooring, so happy I made that choice. We replaced the roof. We have a new heating and air conditioning unit. Also we put in a full privacy fence, we have a fairly large backyard. We extended the back deck so we have two large sitting areas. And we also took out the terrible tub they had and put in a walk in shower. I don't think we'd have much trouble trying to sell it. It's our first house together and it would be hard to sell it but we want to do what's best for our parents.

 

[NightTwister]

It makes me very sad that most people my age and younger will never truly own anything.

I've done some research on mortgage prices here and they're really not any cheaper than apartments -- the payments are just as much or more than rent, especially when you figure in taxes, insurance, HOA, and repairs. I've listened to realtors say you have to count on putting aside up to 5% of your home's value every year for maintenance, bare minimum, because most people don't think about the times when they'll have to replace the roof, HVAC, and appliances if they're staying there long term.

I have some single male friends closing in on age 40 and they tell me they feel like losers for not owning a home, because women, especially Christian women, expect providers (saying this is Biblical) -- and that includes owning a home.

Yet I've heard other statistics saying less than 1/4 of single men today could actually afford a home. I truly think the definition of "provider" has become broken and needs new parameters, but that's just me.

I tell my guy friends to never be ashamed of working hard and being able to save money in their current circumstances.

I might not own a home, but I try to save up as much extra money as possible and just keep putting it away. I also don't have to wring my hands every time something goes wrong. We have a great maintenance guy and he often checks to see if he can fix things the same day I put in the work order. The motherboard for my heater fried (they said they've seen this happen in other units, too,) and they installed a brand-new one within two days. (I had separate heating in my room, so I was fine.) I didn't have to worry about who to call, what it would cost, or if they were just ripping me off -- and I was so grateful for that.

And I wouldn't expect a man to meet a standard that I can't (and don't intend to) meet either, but again, that's just my own conclusion from what I've personally observed.

Maintenance hasn't been too bad with our house, but it's only 20 years old. We had our roof replaced, but it was damaged in a hail storm so insurance covered most of it.

My biggest worry is Colorado is slowly phasing out natural gas (while making it prohibitively expensive in the mean time), so I'm going to have to replace the furnace & A/C unit with a heat pump. Because of the extremely low temperatures here, it will have to be one of the most expensive ones. That leaves just the water heater to replace with electric which isn't too bad. We have solar so I'll probably add battery backup to provide power during the Peak times (4pm-8pm weekdays) to keep the price of electricity down.

But yes, it does seem there's always something to do. That branch that fell in our back yard keeps staring at me.

 

[seoulsearch]

Maintenance hasn't been too bad with our house, but it's only 20 years old. We had our roof replaced, but it was damaged in a hail storm so insurance covered most of it.

My biggest worry is Colorado is slowly phasing out natural gas (while making it prohibitively expensive in the mean time), so I'm going to have to replace the furnace & A/C unit with a heat pump. Because of the extremely low temperatures here, it will have to be one of the most expensive ones. That leaves just the water heater to replace with electric which isn't too bad. We have solar so I'll probably add battery backup to provide power during the Peak times (4pm-8pm weekdays) to keep the price of electricity down.

But yes, it does seem there's always something to do. That branch that fell in our back yard keeps staring at me.

I feel so blessed that my electricity bill is so reasonable (anywhere from about $40 to $100 in the coldest months.) Then again, my parents think I was descended from polar bears (being adopted and all,) because I tend to keep my place cold as it is.

We have a lot of random losses of power in this state, so I've been told that if you have a house, backup generators are a must. (Maybe everyone has them now; when I was growing up in another state, we didn't have them, and we had much more severe winters there.)

Another blessing of where I'm at now is that I live near a hospital, so our complex is on a priority power grid that's one of the first to be restored.

Our electric grid was once hit with about 60,000 people being out of power for up to a week, but my place had power up and running again in less than 6 hours.

These are all things I've taken into consideration when wondering if should be living anywhere else.

 

[NightTwister]

I feel so blessed that my electricity bill is so reasonable (anywhere from about $40 to $100 in the coldest months.) Then again, my parents think I was descended from polar bears (being adopted and all,) because I tend to keep my place cold as it is.

We have a lot of random losses of power in this state, so I've been told that if you have a house, backup generators are a must. (Maybe everyone has them now; when I was growing up in another state, we didn't have them, and we had much more severe winters there.)

Another blessing of where I'm at now is that I live near a hospital, so our complex is on a priority power grid that's one of the first to be restored.

Our electric grid was once hit with about 60,000 people being out of power for up to a week, but my place had power up and running again in less than 6 hours.

These are all things I've taken into consideration when wondering if should be living anywhere else.

I've been here almost 7 years and we've only had one outage that lasted only a couple of hours. My electric bill averages $44/mo, but I also pay $73/mo for the solar panels for another 10 years. If I get those batteries it'll go down quite a bit more, but I have to do that math to see how long the payoff takes.

 

[seoulsearch]

I've been here almost 7 years and we've only had one outage that lasted only a couple of hours. My electric bill averages $44/mo, but I also pay $73/mo for the solar panels for another 10 years. If I get those batteries it'll go down quite a bit more, but I have to do that math to see how long the payoff takes.

This is interesting... I've heard lots of horror stories about solar panels.

Have you been having a good experience with them? Would you recommend them?

It would be great to hear about the pro's instead of the many con's I've heard brought up (mostly from realtors and owners in other states.)

 

[NightTwister]

This is interesting... I've heard lots of horror stories about solar panels.

Have you been having a good experience with them? Would you recommend them?

It would be great to hear about the pro's instead of the many con's I've heard brought up (mostly from realtors and owners in other states.)

I really like them. My wife doesn't completely agree. We were told the installation would cover our annual usage. It doesn't, but it's not terrible. Average monthly utility cost for 4 years is approximately the same for panels+usage vs. just usage. So that means we're ahead of the game because the monthly cost per kWh has gone up a decent amount over those 4 years. Knowing what I know now I'd do it again, but probably add a couple more panels. We may still do that at some point.

 

[Texasgal]

I was lucky and inherited both a mansion and an apartment from my dad. When I’m getting older I’ll probably sell the mansion and move into the apartment. I don’t know how much it’s worth, but it doesn’t really matter since there’s no mortgage. It’s an old mansion in Galveston, but the neighborhood is pristine, so I’m guessing somewhere between $600,000-1,000,000. I hope to be able to live there for at least the next 20 years.

Maintenance is what makes living in the mansion expensive. It’s worth a lot, but the costs are high, so when I retire I will probably have to sell it. I can’t afford living here on my pension. So I guess I’ll have to move to Houston to live in my apartment for my final years. At any rate I will be able to have my coffee in the morning looking at the cars driving by when I’m waiting for the undertaker lol.

 

[Tall_Timbers]

Especially with the introduction of 50-year mortgages... Even if people do buy a home, they'll never own it.

A 50 year mortgage seems like a really bad idea to me. At least getting one of those is a really bad idea. You'll be a slave your entire life.

 

[seoulsearch]

A 50 year mortgage seems like a really bad idea to me. At least getting one of those is a really bad idea. You'll be a slave your entire life.

Exactly. Especially since people aren't able to buy homes until later in life -- they'll never get them paid off.

It reminds me of my research into REIT investing (real estate investment trusts.) According to what I've read, the most ideal REIT's have "triple net leases" -- for example, they lease to a place like Walmart, but Walmart, the tenant, is responsible for all the costs associated with maintaining the property.

Basically, all the REIT has to do is collect the check, and if anything goes wrong or needs maintenance, it's the tenants responsibility. I

In my opinion, this is exactly what's being done to the American people.

They're being sold the dream of home ownership when really, it's just renting with an exorbitant amount of interests, plus all the costs of maintenance and repair, along with fees and taxes that will never end.

For myself -- and I know it will be different for others -- but for me, I'd rather just rent outright rather than be saddled with a huge noose of debt wrapped around my neck for the rest of my life.

 

[Eli1]

I was lucky and inherited both a mansion and an apartment from my dad. When I’m getting older I’ll probably sell the mansion and move into the apartment. I don’t know how much it’s worth, but it doesn’t really matter since there’s no mortgage. It’s an old mansion in Galveston, but the neighborhood is pristine, so I’m guessing somewhere between $600,000-1,000,000. I hope to be able to live there for at least the next 20 years.

I have a question and forgive me if it's too personal. You don't have to respond or simply tell me "it's a personal question that i won't respond"

If your father left you with a house, do you plan on leaving your kids (or kid) with a house?

 

[Texasgal]

I have a question and forgive me if it's too personal. You don't have to respond or simply tell me "it's a personal question that i won't respond"

If your father left you with a house, do you plan on leaving your kids (or kid) with a house?

My daughter has a house and a family, and she is not planning to live in Galveston, and she is my sole heir, so whatever is left she will get.

 

[Eli1]

My daughter has a house and a family, and she is not planning to live in Galveston, and she is my sole heir, so whatever is left she will get.

Thank you for responding and God bless you.
My kids turn 18 soon and i am planning to do a family trust so they get what i have.